Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
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The probability of a sample proportion this high coming from a population where the true proportion of Pennsylvanians with a high school diploma is 83% is 0.0228. How convincing is this probability in convincing us that the true proportion of Pennsylvanians with a high school diploma is greater than 0.83?
Suppose a batch of steel rods produced at a steel plant have a mean length of 150 millimeters, and a variance of 100.
If 275 rods are sampled at random from the batch, what is the probability that the mean length of the sample rods would differ from the population mean by greater than 0.57 millimeters? Round your answer to four decimal places.
Suppose it is known that in a certain large human population cranial length is approximately normally distributed with a mean of 185.6 mm and a standard deviation of 12.7 mm. A random sample of size 10 from this population will have a mean greater than 190 with a=0.05 ? let Z-tabulate = 1.96 and T-tabulate= 2.30
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- The mean output of a certain type of amplifier is 129 watts with a variance of 100. If 96 amplifiers are sampled, what is the probability that the mean of the sample would differ from the population mean by less than 0.9 watts? Round your answer to four decimal places.arrow_forwardSuppose cattle in a large herd have a mean weight of 1428lbs and a standard deviation of 119lbs . What is the probability that the mean weight of the sample of cows would differ from the population mean by less than 11lbs if 49 cows are sampled at random from the herd? Round your answer to four decimal places.arrow_forwardA recent article in a business journal reported that the mean annual salary for graduates from 30 top MBA programs 10 years after graduation is $275,000 Assume the standard deviation is $54,500 24 Keep the error probability at α = 0.05. We want to build an interval which captures 95% of the sample means within ±$5,000 from the population mean. What is the minimum sample size that would yield such an interval? a 411 b 457 c 508 d 564arrow_forward
- A random sample of 20 employees was collected from Brac University, to estimate the average daily time they spent on social media. Suppose that the population times have a normal distribution with a mean of 95 minutes and a standard deviation of 23 minutes. a. Find the probability that the sample mean more than 85 minutes.(answer in three decimal places) b. What is the probability that the sample mean is outside the range of 90 to 100 minutes? (answer in three decimal places)arrow_forwardSuppose the amount of change IWU students carry is exponentially distributed with a mean of $0.88. Suppose that we randomly pick 25 IWU students and learn how much change they have. What type of distribution does the population, which is the change carried by IWU students, follow? What are the mean and standard deviation of the population? (6 points) What type of distribution does the sample mean follow? What are the mean and standard deviation of the sample mean? (6 points) Find the probability that the average change of 25 IWU students was between $0.80 and $1.00. Graph the situation, shade in the area to be determined, and find the probability. (6 points)arrow_forwardA common test was given to a no. of students taken at random from a particular class of the department to assess the significance of possible variance of performance. Make an analysis of variance with the given data: A: 5 6 8 9 7 B: 8 10 11 12 4 C: 7 3 5 4 1arrow_forward
- The standard deviation of the scores on a skill evaluation test is 363 points with a mean of 1239 points. If 335 tests are sampled, what is the probability that the mean of the sample would differ from the population mean by less than 23 points? Round your answer to four decimal places.arrow_forwardThe score obtained on an emotional intelligence test is normally distributed,with an average score (μ) of 112 and a standard deviation (σ) of 8.5. What is the probability that a randomly selected person will:Q.6.3.1 Obtain a score between 111 and 116? Interpret your answer. Q.6.3.2 Obtain a score between 107 and 110? Interpret your answer.arrow_forwardA lathe is set to cut bars of steel into lengths of 6 centimeters. The lathe is considered to be in perfect adjustment if the average length of the bars it cuts is 6 centimeters. A sample of 121 bars is selected randomly and measured. It is determined that the average length of the bars in the sample is 6.08 centimeters with a standard deviation of 0.44 centimeters. Compute the p-value for testing whether the population mean is larger than 6 centimeters. NOTE: WRITE YOUR ANSWER WITH 4 DECIMAL DIGITS. DO NOT ROUND UP OR DOWN.arrow_forward
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